MiniMed Group (NASDAQ:MMED) Trading 8.6% Higher – Should You Buy?

MiniMed Group Inc (NASDAQ:MMED)’s stock price rose 8.6% during trading on Wednesday . The stock traded as high as $14.80 and last traded at $14.9150. Approximately 92,007 shares changed hands during trading, a decline of 90% from the average daily volume of 900,319 shares. The stock had previously closed at $13.74.

Analyst Ratings Changes

Several research analysts have issued reports on MMED shares. Wells Fargo & Company dropped their target price on MiniMed Group from $26.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, June 4th. Weiss Ratings assumed coverage on MiniMed Group in a research note on Wednesday, May 27th. They set a “sell (d)” rating for the company. Zacks Research raised MiniMed Group to a “hold” rating in a research report on Thursday, April 9th. Citigroup assumed coverage on MiniMed Group in a research note on Tuesday, March 31st. They issued a “buy” rating and a $23.00 target price on the stock. Finally, Barclays started coverage on shares of MiniMed Group in a research note on Wednesday, April 1st. They set an “overweight” rating and a $26.00 target price for the company. Twelve analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.33.

MiniMed Group Stock Up 0.6%

The firm’s fifty day moving average is $13.00.

MiniMed Group (NASDAQ:MMED) last released its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.46). The business had revenue of $837.00 million during the quarter. The company’s revenue was up 15.6% on a year-over-year basis.

About MiniMed Group

We are a scaled global medical technology company that develops, manufactures, and markets a comprehensive suite of solutions for the management of diabetes. Since our founding more than 40 years ago, we have pioneered groundbreaking innovation and served the needs of our customers across the globe in service of our mission to make every day a better day for people with diabetes. Today, we are the only player in the market that commercializes all parts of an integrated diabetes management system.